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An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression shows the amount of money in the account after t years? 50(105)^t 50(1.05)^t 50(.05)^t
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An initial deposit of $50 is made into an account that had a 5% interest rate compounded annually. Which expression shows the amount of money in the account after t years?

50(105)^t
50(1.05)^t
50(.05)^t
50(5)^t

User Cheng Yang
by
7.9k points

2 Answers

3 votes
B is the answer to your question
User BeesQ
by
8.3k points
1 vote
5% = 0.05 so the amount increases by a factor of 1.05 each year

B is the answer
User Virthuss
by
8.1k points
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